Non-GAAP net income(b) was RMB39.6 million ($6.1 million) in the second quarter 2011, up 13.7% from RMB 34.8 million in the second quarter 2010.
Non-GAAP basic and diluted earnings per ADS were RMB0.84 ($0.13) in the second quarter of 2011, up 18.3% from RMB0.71in the second quarter of 2010.
Adjusted EBITDA (non-GAAP)(c) was RMB85.2 million ($13.2 million) for the second quarter 2011, up 11.8% from RMB76.2 million the second quarter 2010.
In the second quarter 2011, capital expenditures were RMB85.7 million ($13.3 million), total depreciation expenses were RMB 21.1 million ($3.3 million), and amortization of acquired intangibles was RMB 6.5 million ($1.0 million).
As of June 30, 2011, the Company had total fixed assets of RMB969.5 million ($150.0 million), cash of RMB417.9 million ($64.7 million), and current and noncurrent restricted cash of RMB35.9 million ($5.6million).
Accounts receivable was RMB228.8 million ($35.4 million) as of June 30, 2011, compared with RMB169.4 million as of December 31, 2010. The average period of sales outstanding for accounts receivable (also known as days sales outstanding) was 149 days in the second quarter 2011, down from 181 days in the first quarter of 2011 primarily due to the normal seasonal payment pattern during the year.
As of June 30, 2011, the Company had bank credit lines of RMB2.1 billion ($329 million), of which RMB71.3 million ($11.0 million) were drawn down.
Concord Medical believes its existing cash and available bank borrowing capacity will be sufficient to finance its special dividend to be paid in the third quarter 2011, investments in new facilities, and working capital needs over the next 12 months.
Outlook for the year 2011Based on current market and operating conditions, estimated business expansion, and expec
|SOURCE Concord Medical Services Holdings Limited|
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